HMRC is to retire the current corporation tax (CT) online filing form and replace it with a basic online tool.
All very well and "modern" of HMRC, except that the proposed free online tool will no longer be available for agents.
The “new, improved” company tax return and company accounts filing service is called Company Accounts and Tax Online (CATO).
Accounting Web quote HMRC:
“CATO is an online service which companies will access using their own filing credentials, unlike the existing HMRC free filing software, which uses a form downloaded from the internet.”HMRC acknowledged that agents will not be able to use CATO.
The Institute of Certified Practising Accountants (ICPA) is less than pleased:
“Just how will that work?
What if the company pass their own filing credentials to their accountant?HMRC said:
Are HMRC really saying that a company’s duly appointed and trusted agent cannot be allowed access?
Are they so angry with agents that they are spitefully excluding that small number of small practices that use the free software on behalf of their clients?
And how are they to monitor or police this?
Will there be a fine if a company ask their accountant to help out because they are getting in a mess?”
“We understand that some agents are concerned about the withdrawal of the free HMRC software and the need in future to use commercial software to file company accounts and company tax returns on behalf of clients.”It is expected that is will cost agents around £250 to buy software that will enable them to file on their clients' behalf.
HMRC adding costs to process of tax collection!
Tax does have to be taxing.
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